Seven Bridges Advisors LLC Invests $101000 in Snap Inc. (NYSE:SNAP)

Seven Bridges Advisors LLC Invests $101000 in Snap Inc. (NYSE:SNAP)

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 10th.

Its just-released Q2 report showed it fell short of nearly every benchmark Wall Street set for the company sending shares down more than 16% in post market trading. UBS AG raised shares of Snap from a "market perform" rating to an "outperform" rating and reduced their target price for the company from $24.00 to $19.00 in a report on Thursday, May 11th.

For the second quarter, SNAP is expected to report a loss of $0.14 per share, excluding stock-based compensation, on revenue of $187.2 million, according to Wall Street analyst estimates.

Only, because Facebook has been so quick to copy Snapchat features in Instagram, more time isn't a luxury.

Snap appeared to validate those concerns Thursday, showing choppy growth.

On a per-share basis, the Venice, California-based company said it had a loss of 36 cents. The pair's post-IPO lockup will expire Monday.

DAUs were 143 million in the year-earlier quarter and 166 million in the previous quarter.

Snap's efforts to attract users, and advertisers, are less effective than investors imagined.

Total daily active users hit 173 million, an increase of 4 percent quarter over quarter, which represented a slow-down in growth.

Pivotal's Brian Wieser was one of the few analysts who considered Snap's results "in line" with his forecast.

Shares in the firm fell more than 14% in after-hours trade.

"Given the amount of speculation around the lock-up expiration, I feel it is important to note that Bobby and I will not sell any of our shares this year", he was quoted as saying by Reuters during a call with analysts. That's a weaker growth pace than seen in the first quarter, and still unsatisfactory to investors.

A number of other hedge funds also recently added to or reduced their stakes in the company.

Snap had reported lower a sequential revenue decline in the first quarter of the year ... a red flag for a young company at this stage of its life, though the company chalked it up to seasonality.

The answer, Snap CEO Spiegel explained, was that certain companies have "relaxed their standards", Snap's content is "relevant", and anyone looking for examples of the most egregious growth hacking should just "go for a Google".

"We believe, overall, that the transition to a bidded auction is the best way to grow our business over the long term", Spiegel said in response to a question about the changes. In Canada and the US, there were 75 million daily users at the end of last quarter, compared to 71 million in the first quarter.

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